Tax Credit Tuesday Podcasts

Michael J. Novogradac, CPA, discusses the president's tax reform proposal and this week's congressional calendar. Then, he shares highlights of the ninth round of new markets tax credit allocation awards. In the low-income housing tax credit section, he reviews FHFA's plan for Fannie Mae and Freddie Mac and discusses legislation introduced in California to provide a permanent funding source for af...

Michael J. Novogradac, CPA, discusses the agreement reached on a long-term extension of the payroll tax holiday, Volcker Rule comment letters and a deadline reminder for listeners who do business in Puerto Rico. Then, talks about the ongoing efforts to extend the production tax credit, reviews an audit of the Section 1705 loan guarantee program and shares a scheduling update for listeners in Orego...

Michael J. Novogradac, CPA, discusses summarizes key provisions in President Barack Obama's proposed budget for fiscal year 2013. He also shares an update on the congressional conference committee negotiating an extension of the payroll tax holiday; reviews last week's hearing on the interaction of tax policy and financial accounting rules; shares details of two new low-income housing tax credit p...

Michael J. Novogradac, CPA, discusses the status of tax extenders and the Obama Administration's plan to propose a budget next week for fiscal year 2013. He also reminds listeners about the upcoming deadline to submit comments on the Volcker Rule. Then, he summarizes Fannie Mae's and Freddie Mac's multifamily business in 2011 and shares remarks made by Treasury Secretary Tim Geithner about the Adm...

Michael J. Novogradac, CPA, reviews last week's State of the Union Address. He also discusses the IRS's updated Priority Guidance Plan and a Senate Finance Committee hearing on tax extenders and tax reform. Then, he examines proposals to change the tax treatment of carried interest and reviews a bill in Indiana that would change how property taxes are assessed for low-income housing tax credit pro...

Michael J. Novogradac, CPA, reviews the joint committee hearing on the Volcker Rule and touches on two points of interest in the report released by the president's Council on Jobs and Competitiveness. He also previews President Obama's State of the Union address. Then, he discusses the state new markets tax credit proposed in Indiana. Next, he reviews the provisions of a bill that increase low-inc...

Michael J. Novogradac, CPA, congratulates the winners of the Developments of Distinction Awards. Then he alerts listeners to a hearing on the Volcker Rule. He also discusses historic tax credits in Kansas and Indiana; shares an announcement from Colorado about open positions on the tax credit allocation committee; reviews Sen. Udall's comments about an extension for the production tax credit; summ...

Michael J. Novogradac, CPA, takes a look at the 20-member congressional conference committee that is expected to start formal meetings next week to hash out legislation to extend the payroll tax holiday and other provisions. Then, he reviews the Rental Policy Working Group's recommendations regarding federal policy for affordable rental housing. Next, he reminds listeners of an upcoming deadline t...

Michael J. Novogradac, CPA, provides a preview of the first month of the second session of the 112th Congress and a reminder about an extended opportunity to comment on the Volcker Rule. Then he reviews the latest issue of the IRS's LIHC Newsletter, discusses increases in state private activity bond volume caps, and the IRS's tax-exempt bond work plan for 2012. He also examines what a recent rulin...

Michael J. Novogradac, CPA, discusses where things stand in Congress; the comment period on proposed changes to how difficult development areas or DDAs are designated; NCSHA's recent call for more rural housing funding; housing affordability for seasonal workers; an update on the Historic Boardwalk Hall case; a revised programmatic agreement between the Bureau of Land Management, the Advisory Coun...

Michael J. Novogradac, CPA, discusses the status of tax extenders negotiations in Congress. Then he reviews legislation to make permanent the 9 percent tax credit percentage floor for the low-income housing tax credit, the National Council of State Housing Agencies' updated LIHTC and Underwriting Recommended Practices, and an update on the status of HUD's Rental Policy Working Group. Then, he disc...

Michael J. Novogradac, CPA, discusses the status of tax extenders legislation in Congress; the latest QEI issuance report and highlights of recent remarks made by CDFI Fund Director Donna Gambrell; new resources available for the tax credit community to support the historic tax credit program and the recently approved "Native American Traditional Cultural Landscapes Action Plan"; two letters sent...

Michael J. Novogradac, CPA, discusses Congress's agenda for the remainder of the year; IRS guidance about state tax credits; a task force in Oklahoma charged with evaluating state tax credits programs; final NMTC targeted populations rules; the IRS conservation easement audit technique guide; an op-ed piece in support of expanding the historic tax credit; efforts to extend the Section 1603 cash gr...

Michael J. Novogradac, CPA, discusses the collapse of the Super Committee and what lies ahead for Congress; the extension of Treasury's New Issue Bond Program and the Temporary Credit and Liquidity Program; the FY 2012 income limits; an update on redevelopment agencies in California; the Historic Boardwalk Hall case; a report on the Minnesota Historic Rehabilitation Tax Credit; an awarding winning...

Michael J. Novogradac, CPA, discusses the failure of the Super Committee and building momentum for tax extenders. He shares news about the New Markets Tax Credit Extension Act as well as discusses a report that evaluates new markets tax credits' effect on inner cities. In historic tax credit news, he highlights the job creation benefits being provided by the Minnesota Historic Rehabilitation Tax C...

Michael J. Novogradac, CPA, discusses remarks made by Senator Tom Carper regarding the chances for passage of renewable energy tax credit legislation and a project the EPA is conducting to evaluate the feasibility of renewable energy development on Brownfield and Superfund sites. Then, he reviews the contents of a letter sent to all members of Congress last week urging the passage of a tax extende...

Michael J. Novogradac, CPA, discusses the list of banks that were designated as systematically important; the Super Committee; tax reform; and federal appropriations. Then he discusses a number of new renewable energy tax credit bills that were introduced last week; a comment invitation seeking input on the new markets tax credit program; new NMTC compliance monitoring guidance and the latest QEI...

Michael J. Novogradac, CPA, discusses Rep. Dave Camp's draft tax reform; the Super Committee's progress; the status of federal appropriations; the launch of the Bipartisan Housing Commission; the brief filed by the IRS in its appeal of the Historic Boardwalk Hall case; the next meeting of the Advisory Council on Historic Preservation; the provisions of the Community Wind Act; key points of two new...

Michael J. Novogradac, CPA, shares an update on the Super Committee; discusses a report that compares the New Markets Tax Credit program to a comparable cash grant program; updates listeners on the status of New Markets Tax Credit Extension legislation; shares encouraging words of support for the historic tax credit from Congressman Brian Higgins; discusses the ongoing debate over the state histor...

Michael J. Novogradac, CPA, discusses an update on the Super Committee's progress; summarizes legislation introduced to amend historic tax credit rules to allow local governments rehabilitate aging public schools; discusses a report about how to implement solar PV projects on historic buildings; reviews the findings of a report that found that a one-year extension of the Section 1603 cash grant ex...

Michael J. Novogradac, CPA, discusses a confidential, leaked draft of the Volcker Rule and what it means for the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credit communities. Then he shares an update on the economic substance doctrine. Next, he reviews IRS guidance regarding the federal income tax treatment of the receipt of excessive payme...

Michael J. Novogradac, CPA, discusses the status of the federal budget and upcoming guidance expected from the Federal Accounting Standards Board that will significantly affect the real estate industry. In the low-income housing tax credit discussion, he reviews HUD's final 2012 fair market rents, HUD's plan to release income limit data each year on December 1, and the latest IRS LIHC Newsletter....

Michael J. Novogradac, CPA, discusses the Deficit Reduction Super Committee's hearing on tax reform; the status of the federal budget; and recent and upcoming congressional hearings. Then, he discusses the status of support in Congress for the New Markets Tax Credit Extension Act. In the historic tax credit segment, he provides a state level update on the latest developments Missouri. Next, he rev...

Michael J. Novogradac, CPA, considers what President Obama's deficit reduction plan may mean for tax credits; shares an update on the Deficit Reduction Super Committee; discusses the status of the federal budget; highlights items of interest in the IRS's Priority Guidance plan; shares remarks about eliminating tax expenditures from a recent Senate Finance Committee hearing; and discusses a Ways an...

Michael J. Novogradac, CPA, reviews President Obama's job proposals and an update on tax patent legislation. Then he discusses Senate Democrats' call to expand the new markets tax credit and shares highlights from a New Markets Tax Credit Coalition fact sheet about the new markets tax credit's impact on job creation. He also reminds listeners about an important QEI issuance deadline and summarizes...